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Form 1120-POL — An Overview
Form 1120-POL is an annual return filed by political organizations and certain tax-exempt entities. It is used to report taxable income and any income tax liability under Section 527 after applying the $100 special deduction.
Form 1120-POL Filing Due Date
- Form 1120-POL is due on the 15th day of the 4th month after the end of the organization’s tax year.
- For Organizations that follow a calendar-tax period, the deadline is April 15.
Information Required to Complete
Form 1120-POL
When filing Form 1120-POL, you’ll need the following basic details to complete your filing:
- The organization’s basic Information
- Financial information, such as income and deductions
- Program service accomplishments
- Taxable income and tax credits
- Taxes due and any overpayment
- Books are in the care of details
Preparing 1120-POL Made Easy
Get your 1120-POL done accurately in minutes with our streamlined e-filing solution
Simple 3 Step Filing
Effortlessly prepare your Form 1120-POL with accuracy using our intuitive interview-style form preparation option.
Internal Audit Check
Our built-in audit check reviews your completed form and displays IRS errors before transmission.
Smart AI Assistance & World-Class Support
Have questions? Our AI chatbot is here for instant support. For expert assistance, reach out to our support team via chat, phone, or email.
How to e-file Form 1120-POL?
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Step 1: Add Organization’s EIN
Search using your EIN, and our system will automatically retrieve your organization’s details from the IRS.
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Step 2: Choose Tax Year
Choose the tax year for which you want to file a return and proceed. Tax990 supports the current and the previous year's filing.
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Step 3: Enter Form Data
Provide all the required information for your Form 1120-POL using our interview-style filing method.
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Step 4: Review the Return
You can review the summary of your form. Also, you can share your form with other organization members to review and approve the return.
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Step 5: Transmit to the IRS
Once the completed form is reviewed, you can electronically transmit it to the IRS. You’ll receive real-time filing status updates via email or text.
-
Step 1: Add Organization’s EIN
Search using your EIN, and our system will automatically retrieve your organization’s details from the IRS.
-
Step 2: Choose Tax Year
Choose the tax year for which you want to file a return and proceed. Tax990 supports the current and the previous year's filing.
-
Step 3: Enter Form Data
Provide all the required information for your Form 1120-POL using our interview-style filing method.
-
Step 4: Review the Return
You can review the summary of your form. Also, you can share your form with other organization members to review and approve the return.
-
Step 5: Transmit it to the IRS
Once the completed form is reviewed, you can electronically transmit it to the IRS. You’ll receive real-time filing status updates via email or text.
How Much Will It Cost to File Form 1120-POL Electronically?
Why Choose Tax990?
- Retransmit Rejected Returns
- No Cost Corrections
- Money-Back Guarantee
$49.90/Form
Why Choose Tax990?
- Retransmit Rejected Returns
- No Cost Corrections
- Money-Back Guarantee
$49.90/Form
See why our clients choose Tax990
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Trusted and loved by users like you.
4.9 rating of 52,784 reviews
Frequently Asked Questions
What is Form 1120-POL?
Form 1120-POL is an annual information return typically filed by political and certain tax-exempt organizations. Organizations that have a remaining taxable income after the $100 special deduction have been applied usually file Form 1120-POL to report taxable income and income tax liability under section 527.
Who must file Form 1120-POL?
Political organizations that have any taxable income (whether or not it is tax-exempt). The tax-exempt organizations that are treated as having political organization taxable income under section 527(f)(1).
When is the due date to file Form 1120-POL?
Form 1120-POL must be filed on or before the 15th day of the 4th month after the organization’s accounting period ends. For the organizations operating under the calendar year, the deadline will be April 15th (Unless it falls on a Saturday, Sunday, or federal holiday).
Does Form 1120-POL have an extension?
If you can't file Form 1120-POL by the deadline, submit Form 7004 on time for a 6-month extension.
What are the penalties for late filing Form 1120-POL?
A political organization that fails to file Form 1120-POL on time must pay a penalty equal to 5% of the tax due for each month (or partial month) the return is late, up to a maximum of 25% of the tax due. For returns filed more than 60 days late, the minimum penalty is the lesser of the tax due or $135.
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